Right after the referendum in June, a number of charities have actually been seeking our guidance concerning the impact of the decision to leave the EU. In addition, some enterprises have found their projects positioned in extremely unpredictable situations, with application submissions to funds like the ERDF (European Regional Development Fund) pending and no strong or dependable guidance from the Government or regional LEPs regarding whether the financing streams will still come to fruition.
Whilst at this phase no one knows with confidence exactly what the effect will be, we would certainly recommend that non profit organisations faced with the challenge of an unknown result from European funding comply with these key steps:
1. Do Not Panic!
In the years following 2008, charities as well as not-for-profits throughout the UK endured one of the most awful periods of recession the nation has ever seen. In case you managed to get through the challenging times of the previous 8 years, you are highly likely to make it through BREXIT also.
2. Talk With Current Funders
If you are mid-way through fundraising for a big undertaking, communicate with your current funders now. If they have committed already it is since they believe in your undertaking and will certainly be understanding of your situation – some could even raise their grant offer to cover a possible shortfall. The’re a great many fundraising strategy examples internet pages in the UK, should you be looking for more information or sometimes purchase prices this web page is the best kick off point prospect research uk.
3. Mitigate
Dealing with the problem head on and giving a short review of how you plan to mitigate against a potential funding deficiency – seeking additional funders, scaling or phasing an undertaking and so on – will be viewed favourably both present and potential benefactors alike, generating confidence in your organisation.
If you require guidance about your development plans or fundraising difficulties, don’t hesitate to contact one of our Directors for an informal conversation.